It’s a nightmare scenario for any broker, having to tell a client that their claim isn’t covered under the terms of the policy they took out. For high net worth (HNW) brokers, the stakes can be even higher. It’s not just that the expectations of HNW clients - who have obviously paid significantly larger premiums - are often elevated. The value of the claim that is effectively being declined could be eye-wateringly high.
In this short article, ARAG’s Andy Talbot explains why legal expenses insurance tailored to suit the heightened and varied demands of the high net worth market is essential, to ensure such clients are fully covered.
• How could such an important risk be left under or uninsured?
• Examples of LEI filling a gap left by other policies.